Editor's PiCK
Hong Kong Securities and Futures Commission Approves Solana Spot ETF, First in Asia
Summary
- The Hong Kong Securities and Futures Commission said it has approved the Solana (SOL) spot ETF, the first in Asia.
- The ETF is scheduled to be listed on the Hong Kong Stock Exchange on October 27, and its annual total expense ratio is set at about 1.99%.
- With this approval, Hong Kong is said to have become a market that holds the major crypto asset spot ETFs including Bitcoin, Ethereum, and Solana.
The Hong Kong Securities and Futures Commission (SFC) has officially approved a Solana (SOL) spot exchange-traded fund (ETF). It is the third crypto asset spot ETF approved after Bitcoin (BTC) and Ethereum (ETH), and the first Solana ETF in the Asia region.
According to local outlet Hong Kong Economic Times on the 21st (local time), the product will be managed by CSOP Asset Management (華夏基金) and is scheduled to be listed on the Hong Kong Stock Exchange on October 27. The product name is 'CSOP Solana ETF (03460)', and trading counters for Hong Kong dollars as well as yuan (83460) and dollar (9460) will also be opened.
The CSOP Solana ETF will be traded through the crypto asset trading platform OSL Exchange, and custody services will be provided by OSL Digital Securities. The management fee is 0.99% per year, and the annual total expense ratio, including custody and administrative fees, is set at approximately 1.99%. The ETF will not distribute dividends.
CSOP Asset Management is already operating Bitcoin and Ethereum spot ETFs in Hong Kong, and with this approval Hong Kong has become a market holding the three major crypto asset spot ETFs.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
